Announces Grant of Stock Options
Trading Symbol RCR: TSX-V
TORONTO, Oct. 20 /CNW/ - Rockcliff Resources Inc. (RCR: Tier 1 TSX-V) is pleased to announce that drilling has commenced on its Snow Lake Project located in central Manitoba. A total of 2,500 m of drilling are planned in approximately 15 holes. Drilling is planned to focus on the Rail and Freebeth properties where untested geophysical targets have been identified in recent borehole and DPEM geophysical surveys. The targets are associated with geological environments that are prospective for VMS mineralization.
Once assay results are obtained from an accredited lab they will be distributed to the public.
Also, Rockcliff wishes to announce that an aggregate of 250,000 options to purchase common shares of the Company at $0.20 per share for five (5) years have been granted to one (1) director (200,000) and one (1) senior officer (50,000) of the Company.
The grants are subject to acceptance by the TSX Venture Exchange.
Rockcliff has the exclusive right to earn a 100% interest in the Rail and Freebeth properties from Hudson Bay Exploration and Development Company Limited (HBED), a wholly owned subsidiary of HudBay Minerals Inc. (HBM: TSX). If Rockcliff earns its interest in the Rail and Freebeth properties, HBED will receive a 2% Net Smelter Return Royalty in both properties. If Rockcliff earns a 100% interest in the Rail and Freebeth properties, HBED then has a right to acquire up to a 65% interest in the Rail and Freebeth properties. Please refer to the Press Release dated March 23, 2007 for further details.
Rockcliff Resources Inc.
Rockcliff Resources Inc. is a Canadian resource exploration company focused on the Snow Lake VMS Project located in central Manitoba. The project totals in excess of 500 km(2) and is located within the prolific Flin Flon greenstone belt. The project presently includes five historical VMS deposits (Lon, Rail, Reed, Kof, Sylvia) and numerous additional areas with potential for VMS and nickel mineralization. Rockcliff also controls the Shihan VMS Project located in Northern Ontario.
SOURCE Rockcliff Resources Inc.
For further information: For further information: please visit our website at www.rockcliffresources.com or contact Ken Lapierre, P.Geo., President and CEO of Rockcliff Resources Inc. at (416) 863-9800 or at firstname.lastname@example.org